Extended Tax Credit
The big news from last week for residential home buyers is that the Extended Home Buyer Tax Credit has been enacted. That means that first time home buyers and those who have not owned a home in the past 3 years can qualify for an $8000 tax credit if they are under contract by April 30, 2010, and close by June 30, 2010. The income limits have changed too, so that now buyers filing a single return and earning less than $125,000 ($225,000 filing jointly) will qualify; this is up from $75,000 / $150,000 from the original first time buyer tax credit.
The extended plan also targets another segment of buyers that was not included in the original plan, and that is for those buyers who have owned a home for five consecutive years. For this group, the tax credit is $6500. The house does not have to be sold, but the home purchased for the tax credit must be your primary residence. That gives many sellers time to sell their current home and still take advantage of the credit. If you have any questions about how this law applies to you, please contact The Cunningham Team.
Clemson MBA Program Moves Downtown
Clemson University will follow the trend among high profile business schools by moving its MBA program to downtown Greenville, in the former Bowater building next to Liberty Bridge. By putting the students into a vibrant urban environment, they will have better access to local businesses and internships than would be available on campus. Clemson will consolidate two business programs already downtown, including the Renaissance Center and the Arthur M. Spiro Institute for Entrepreneurial Leadership. ScanSource, a local hi-tech company that has been in Greenville for 17 years, made a $1 million contribution to Clemson to help make the relocation a reality.
Kroc Center Breaks Ground
The long awaited Salvation Army Kroc Center, just upriver from Greenville's West End, should be breaking ground this year with a completion date of May 2011. The community center will be a first-of-its-kind in the Carolinas and feature a pool, gym, fitness center, cafeteria, Boys and Girls Clubs, soccer fields, and tennis courts. The project has been on the board for five years after funding from the Ray Kroc foundation was announced, but changes in leadership and rising construction costs have forced several delays. If you are traveling out of town on Academy / Highway 123, you can see that grading has been completed at the site next to the A.J. Whittenberg Elementary School, which is well under way. The location next to the school will also be a convenient safe haven for students that need a place to stay until parents get home from work.
New Parking Spaces
If you're scrounging around downtown Greenville for a mid-day parking spot, you might want to check out the 72 new parking spaces between W. Washington St. and W. McBee Ave. where the City has renovated an existing parking deck. The City is running a pilot program to kick it off with $1 for the first two hours and $1 for each hour afterward. It's located only one block off Main Street and pretty convenient. The deck will continue to be free after 6:00 p.m. on the weekdays and on the weekends.
Easley Town Center
The Easley Town Center project has finally started the construction phase at the site of the old Saco Lowell manufacturing site. Despite delays from the current financing environment, the site is expected to be completed by the spring of 2011. Wal-Mart has announced their plans to put in a Superstore, and 10 other leases have been signed but not announced publicly.
Wow, that was really some nice warm fall weather we had last weekend. That will be ending Tuesday night with rain expected for a couple of days before clearing up for the weekend. Highs will be in the mid 60s and lows around 50.
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